These programmable containers can represent anything of value — stocks, bonds, art, intellectual property — just as a website can be “programmed” to contain any kind of information online, like a storefront, social media site, or government landing page. Tokens are also accessible to anyone around the world with an internet connection, and eliminate the need for many traditional intermediaries. Embedded technology like smart contracts can automate functions once handled by brokers, exchanges, and transfer agents, reducing both friction and fees.
